KSE gains on China’s strong support

The KSE 100-index on Monday showed a positive movement and closed higher at 11,843.65, gaining 57.56 points or 0.49 per cent from the previous level of 11,786.09 amid China’s strong assurance to support Pak fragile economy through signing of new bilateral trade and investment pacts and Memorandum of Understanding (MoU) with Pakistan in various fields of economy.

Moreover, renewed foreign interest on strong valuations in local oil & gas, banking and textile sectors’ scrips, record rise in international cotton prices, higher oil prices and rising foreign exchange reserves, and bullish activity in global capital markets ahead of Christmas holiday played a significant role in maintaining market on a positive note.

According to the daily stock market report, the 100-index closed higher at 11,927.49 and lower at 11,786.09 levels, respectively.

Volumes remained low at 113.29 million shares versus 120.13 million shares traded previously

Total ready market value stood at Rs5.62 billion or $65.55 million while KSE market capitalisation amounted to Rs3, 219.99 billion or $37.54 billion, respectively on the reported day.

The KSE 30-index closed at 11,388.13 level with an increase of 73.89 points or 0.65 per cent from the last closing whereas the KSE-All Share Index closed at 8, 231.83 level, up 39.56 points.

The daily trading activity at market depicted that KSE future volume shares recorded at 4.23 million or Rs507.61 million while KSE future spread came at 5.69 per cent.

The shares of World Call Telecom opened at Rs3.19 and closed at Rs3.21 with highest rate of Rs3.45 and lower at Rs3.16, showing a turnover of Rs10.304 million followed by Lotte Pakistan PTA whose shares opened at Rs13.17 and closed at Rs13.23, translating into earnings of Rs7.460 million.

Besides, the shares of Nishat Mills Limited yielded Rs7.060 million at the opening rate of Rs59.66 and closing rate of Rs62.01 during the whole sessions of trading at KSE on Monday.

via KSE gains on China’s strong support | Pakistan | News | Newspaper | Daily | English | Online.

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